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mk · 3576 days ago · link · · parent · post: Jeremy Warner: Austria is fast becoming Europe's latest debt nightmare
I am not convinced about a contagion, but it did surprise me to see an Austrian bank failing. I agree the author looks clueless speaking about Detroit. TBH I have no idea what the books of EU banks look like, or what their exposure might be. I do know that Greece won't be paying back its debt, however. That is a mathematically reality. I also assume that their debts aren't the only ones that won't be paid.